Argentina: rents in Buenos Aires soared more than 10% in one month
The rent price in the City of Buenos Aires (CABA) rose 10.1% in April, registering the highest increase ever since the adjustment of the Rent Law in 2020, according to data from the real estate sector.
Thus, this year’s accumulated increase reached 38.4%, above inflation.
While the uncertainty regarding the future of the Rent Law grows, the monthly price of a one-room apartment is $105,613, while a two-room apartment reaches $128,584 and a three-room apartment $169,000 per month, according to a Zonaprop report.
HOW MUCH DOES IT COST TO RENT IN CABA
Palermo and Belgrano neighborhoods have the most expensive offer in the city, with a price of $165,061 and $152,104 per month, respectively.
In the middle zone are Villa Crespo ($132,524), Villa Gral Mitre ($122,504), and Paternal ($115,029).
The lowest prices are in Mataderos ($98,003), Liniers ($99,268), and Flores ($104,432).
THE BUENOS AIRES MARKET
In CABA, sales prices slightly dropped by 0.4% in April and accumulated by 1.6% in the first months of the year.
In 2022, the decrease was 2.3% in the same period, which shows a deceleration of the price drop.
A one-bedroom apartment in CABA is priced at US$94,235, while a two-bedroom apartment with 50 square meters is priced at US$113,515.
A three-room, 70-square-meter apartment costs about US$159,258.
The neighborhoods with the highest prices are Puerto Madero, Palermo, and Belgrano.
On the other hand, the most affordable neighborhoods are Lugano, Nueva Pompeya, and La Boca.
With information from Bloomberg